MERCH ADO ABOUT UMG'S BRAVADO: BENNETT EXITS, VLASIC STEPS IN

UMG has announced that Tom Bennett is stepping down as CEO of global merchandising division Bravado, effective immediately, to launch a TBA project of his own, though he will continue consulting the company. Bennett, who became CEO in North America in 2004, will be succeeded by Mat Vlasic, who joins the company from Sony, where he led that company's merch arm.

“Tom has done an outstanding job building Bravado into the most successful merchandising company in the industry," proclaimed UMG CFO/EVP Boyd Muir. "On behalf of everyone here, I thank him for all of his many contributions and we look forward to working with him in his new endeavor. I’m thrilled that we have identified a uniquely qualified successor in Mat Vlasic, who brings to Bravado a passion for working with artists and helping them realize their vision for extending their brands through a variety of fan-driven products.”

Bennett expressed his pride at his accomplishments with Bravado, his "wistful" feelings upon stepping down and his pleasure at the prospect of carrying on in a consulting capacity.

For his part, Vlasic, who's been at Sony since 2003, voiced his excitement at the next phase and thanked Bennett, Muir, Michele Anthony and team. The fate of his pickle empire, meanwhile, remains uncertain.